Is Seplat a Better Stock to Own Than Oando?

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Seplat Energy Plc, is a leading Nigerian independent energy company listed on both the Nigerian Exchange Group and the London Stock Exchange, rapidly expanding through strategic onshore asset acquisitions.

In the first six months through June 2026, its Production averaged 139,509 barrels per day boepd, while Group production averaged 149,070 boepd as it recorded adjusted earnings of N255.50 billion, (N365.75k per share)

Oando PLC, Nigeria’s leading indigenous energy group listed on both the Nigerian Exchange Ltd. and Johannesburg Stock Exchange, centered heavily on domestic crude and natural gas production as well as extensive retail fuel distribution and petroleum product trading across West Africa.

For in the first six months through June 2026, It delivered average production of 42,789 boepd (+16% YoY), it recorded profit after tax (PAT) of N68.60 billion, within guidance, supported by new wells drilled, the restoration of previously shut-in wells and improved uptime.

Seplat and Oando are the two leading oil and gas companies in Africa’s most populous nation who are acquiring strategic assets with a view to magnifying shareholders’ earnings.

Seplat vs. Oando Dividend analysis

Period: FY24-25

In the period of analysis, Seplat Energy increased its dividend from 16.50 cent paid in 2024 to 25 cent paid in 2025, with the following annual increases:

• 2025: 52 percent
• 2024: 10 percent

A consistent dividend payment reflects the strength of the company’s balance sheet, strong underlying cash flow generation and positive earnings outlook.

Seplat offers a higher dividend yield of around 2.40-2.56 percent, compared to Oando zero figures as the firm is reeling from accumulated losses.

Seplat generates higher cash flow to support future…